The Ministry of Defence (MoD) publishes a ten-year Equipment Plan report every year, setting out intended investment on equipment and support projects over the next 10 years.
It assesses whether this is affordable within its future budget. The Plan includes equipment already in use, such as the Lightning II jets, and in development, such as the Type 26 global combat ship.
Each year, the National Audit Office publishes a parallel report, on MoD’s assessment of the Plan’s affordability and response to the financial challenges. In recent years, the NAO has found that MoD has become “locked into a cycle of managing its annual budgets to address urgent affordability pressures at the expense of longer-term strategic planning”.
On the 19 November 2020, the Government announced the ”largest military investment in 30 years”.